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Prospective Property definition

Prospective Property means (i) a Property that an Additional Borrower desires to purchase with a portion of the purchase funds advanced under the Note pursuant to terms of this Agreement, or (ii) a Property that an Additional Borrower wholly owns and desires to re-finance with a portion of such re-finance funds advanced under the Note pursuant to terms of this Agreement, and (iii) in both cases, the Loan Parties and such Additional Borrower has submitted to Lender an Application for Advance regarding such Prospective Property for Lender's review 5 7435458 v3 (78055.00044.000) and approval, in Lender's sole discretion, pursuant to the terms of this Agreement together with all materials and other requirements required for an Application for Advance.
Prospective Property means (i) a Property that an Additional Borrower desires to purchase with a portion of the purchase funds advanced under the Note pursuant to terms of this Agreement, or (ii) a Property that an Additional Borrower wholly owns and desires to re-finance with a portion of such re-finance funds advanced under the Note pursuant to terms of this Agreement, and (iii) in both cases, the Loan Parties and such Additional Borrower has submitted to Lender an Application for Advance regarding such Prospective Property for Lender's review and approval, in Lender's sole discretion, pursuant to the terms of this Agreement together with all materials and other requirements required for an Application for Advance. "Prospective Property Closing Date" means the later of actual calendar day that (a) a Prospective Property is purchased or re-financed by an Additional Borrower, which must be no earlier than thirty (30) days nor no later than ninety (90) days after Lender receives the Application for Advance for such Prospective Property, unless an earlier or later date is approved in writing by Lender, in Lender's sole discretion and (b) the deed and Deed of Trust for such Prospective Property is filed of record in the real property records of the county in which the Prospective Property is located. "Purchase Contract" means a purchase and sale contract for a Prospective Property entered into or assumed by an Additional Borrower and delivered to Lender as part of an Application for Advance for such Prospective Property. "Purchase Price" means the purchase price under a Purchase Contract to be paid by an Additional Borrower for the Prospective Property covered by such Purchase Contract. "Request for Advance" means a written Request for Advance for Acquisition/Refinance Purposes in form and substance as set forth on Exhibit E attached hereto and made part hereof, , executed delivered by Borrower, each Guarantor and each Subsidiary to Lender. "Remaining Committed Sum" means an amount equal to the Committed Sum less (a) the then current unpaid principal balance under the Note, this Loan Agreement, any Deed of Trust or any other Loan Document and (b) any amount requested by Borrowers or Additional Borrowers for an Acquisition/Refinance Purpose or an Operational Purpose and Lender has approved to advance pursuant to the terms of this Loan Agreement but has not yet funded. "Submission Date" means the date the Loan Parties and any Additional Borrowers submit to Lender either an Operatio...
Prospective Property means a prospective property described under “Relationship with Lotus Crux and Lotus Crux Acquisition – Strategic Investment Agreement”.

Examples of Prospective Property in a sentence

  • During the Term of this Agreement, the real property underlying each Prospective Property shall not be used as security for any loans or mortgages or otherwise have any liens, encumbrances, or stop notices placed on it.

  • RAP will be the long-term steward of the Prospective Property park site on which the Improvements are built.

  • Evidence reasonably satisfactory to Lender that the Prospective Property, on the Submission Date, has an ICR of 1.50 or more for the twelve (12) months immediately preceding the Submission Date.

  • An appraisal of the Prospective Property by a qualified MAI appraiser approved by Lender, in form, scope and substance satisfactory to Lender, showing the fair market value of the Prospective Property.

  • An inspection of and acceptable report on the buildings and other improvements located on such Prospective Property in form and substance and by an engineer acceptable to Lender in Lender's sole discretion, at Borrowers' and Additional Borrowers' sole cost and expense.

  • RAP shall make no other use or sale or other disposition of the Prospective Property, except as authorized by any applicable Grant Agreement.

  • Lender may, in Lender's sole discretion, disburse Loan proceeds directly to third parties, including, but not limited to, Title Companies, to pay a portion of the Purchase Price or refinance loan amount of such Prospective Property together with other costs or expenses required to be paid by Borrowers or Additional Borrowers pursuant to this Agreement.

  • So long as the Parties are pursuing at least one Prospective Property (including any Prospective Property subsequently added to Exhibit A by the mutual written agreement of the Parties), the Term shall continue with respect to such Prospective Property.

  • A copy of the organizational documents for the new Additional Borrower (e.g., articles of formation, limited liability operating agreements, articles of incorporation, by-laws, etc.) Current bankruptcy, federal tax lien and judgment searches and searches of all UCC records in the County where a Prospective Property is located and an Additional Borrower is formed or incorporated, demonstrating the absence of adverse claims.

  • Satisfactory evidence of the compliance of the Prospective Property with The Americans with Disabilities Act of 1990, as amended, similar state laws, and any regulations promulgated pursuant thereto, as amended.

Related to Prospective Property

  • Sensitive property means property potentially dangerous to the public safety or security if stolen, lost, or misplaced, or that shall be subject to exceptional physical security, protection, control, and accountability. Examples include weapons, ammunition, explosives, controlled substances, radioactive materials, hazardous materials or wastes, or precious metals.

  • DOCPROPERTY DocID" \* MERGEFORMAT 22518942.2 238213-10001

  • Cooperative Property The real property and improvements owned by the Cooperative Corporation, including the allocation of individual dwelling units to the holders of the Coop Shares of the Cooperative Corporation.

  • Mixed-use property means an eligible property that includes three or more residential units and may also contain a commercial property component in the same building.

  • School property means in or within any building, structure, athletic playing field, playground, parking lot or land contained within the real property boundary line of a public elementary or secondary school, or in or on a school bus, as defined in Vehicle and Traffic Law §142.

  • Income Property means, in respect of each Sub-Fund, (a) all interest, dividends and other sums deemed by the Trustee, (after consulting the auditors either on a general or case by case basis), to be in the nature of income (including taxation repayments, if any) received or receivable by the Trustee in respect of the Deposited Property of the relevant Sub-Fund (whether in cash or, without limitation, by warrant, cheque, money, credit or otherwise or the proceeds of sale or transfer of any Income Property received in a form other than cash); (b) all interest and other sums received or receivable by the Trustee in respect of (a), (c) or (d) of this definition; (c) all cash payments received or receivable by the Trustee for the account of the relevant Sub-Fund in respect of an Application; and (d) all Cancellation Compensation received by the Trustee for the account of the relevant Sub-Fund; (e) any payments to be received or are receivable by the Trustee under any contractual agreements in the nature of investments for the benefit of the relevant Sub-Fund but excluding (i) the Deposited Property; (ii) any amount for the time being standing to the credit of the distribution account for the account of the relevant Sub-Fund or previously distributed to Unitholders; (iii) gains for the account of the relevant Sub-Fund arising from the realisation of Securities; and (iv) any sums applied towards payment of the fees, costs and expenses payable by the Trust from the Income Property of the relevant Sub-Fund;

  • Scheme Property means the property of the Company required under the FCA Rules to be given for safe-keeping to the Depositary.

  • Residential property means improved property that:-

  • Common Property means any and all real and personal property and easements and other interests therein, together with the facilities and improvements located thereon, now or hereafter owned by the Association for the common use and enjoyment of the Owners.

  • Operating Property means any property owned, leased, or operated by the Party in question or by any of its Subsidiaries or in which such Party or Subsidiary holds a security interest or other interest (including an interest in a fiduciary capacity), and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Existing Property means all property against which ad valorem property taxes were levied by a local unit for its concluding fiscal year, minus all property that is considered losses for purposes of ad valorem property tax levies of the local unit for the ensuing fiscal year.

  • Common Properties means and refer to those areas of land shown on any recorded subdivision plat of The Properties and intended to be devoted to the common use and enjoyment of the owners of The Properties.

  • The Properties means and refer to all such existing properties, and additions thereto, as are subject to this Declaration or any Supplemental Declaration under the provisions of Article II hereof.

  • Timberlands means, as of any date of determination, all real property owned by or leased to the Borrower or any Subsidiary that is suitable for Timber production, natural resource development or real estate development. For the avoidance of doubt, “Timberlands” shall exclude property, plant and equipment of the Borrower and its Subsidiaries associated with their manufacturing activities.

  • Subject Property means any premises located in the County on which an energy efficiency improvements, water efficiency improvements, or renewable resource applications are being or have been made and financed through an outstanding PACE loan.

  • Adjoining Property means all sidewalks, driveways, curbs, gores and vault spaces adjoining any of the Leased Premises.

  • Unimproved Real Property means Property in which the Company has an equity interest that was not acquired for the purpose of producing rental or other operating income, that has no development or construction in process and for which no development or construction is planned, in good faith, to commence within one (1) year.

  • Improved property means any property upon which there is erected a structure intended for continuous or periodic habitation, occupancy or use by human beings or animals and from which structure Sanitary Sewage and/or Industrial Wastes shall be or may be discharged.

  • the Property means the Property more particularly described in Condition 2 of the Conditions of Sale (as defined in 1.6 below);

  • Business Property means property on which a business is conducted, property rented in whole or in part to others, or held for rental.

  • Substitute Property shall have the meaning set forth in Section 2.6 hereof.

  • New property means (i) the assessed value, after final

  • Hotel Property means a Property on which there is located an operating hotel.

  • Mining Property means a property used for mining operations as defined in the Mineral and Petroleum Resources Development Act, 2002 (Act No. 28 of 2002);

  • Subject Assets is defined in Section 2.2(c).

  • Project Assets means all physical and other assets relating to (a) tangible assets such as civil works and equipment including foundations, embankments, pavements, road surface, interchanges, bridges, culverts, road over-bridges, drainage works, traffic signals, sign boards, kilometer-stones, [toll plaza(s)], electrical systems, communication systems, rest areas, relief centers, maintenance depots and administrative offices; and (b) Project Facilities situated on the Site;